Vita Coco Company, Inc. Stock Price, News & Analysis

Vita Coco (NASDAQ: COCO) is launching The Hangover Shop™ on February 13, 2023, partnering with DoorDash to provide free hangover remedies for DashPass members nationwide. Following a successful pilot in select markets, this nationwide offer includes up to $15 off on hangover essentials such as Vita Coco coconut water, snacks, and over-the-counter remedies. The initiative aims to alleviate the productivity drop many face on 'National Football Hangover Day,' coinciding with the Super Bowl aftermath. This strategic partnership not only highlights Vita Coco's brand but also showcases its commitment to innovative consumer engagement.

The Vita Coco Company (NASDAQ: COCO) has launched a new milk alternative, Vita Coco Barista MLK, exclusively at Alfred Coffee locations in Los Angeles, San Francisco, and Austin. This gluten-free, dairy-free, soy-free, and non-GMO product is made from coconut water and cream, developed with baristas for optimal coffee pairing. Consumers can enjoy the limited-time Coconut Date Shake Latte, available from January 30 to March 12, 2023. The collaboration enhances Vita Coco's non-dairy offerings and caters to a growing demand for plant-based milk options.

The Vita Coco Company (NASDAQ: COCO) announced its participation in the 25th Annual ICR Conference from January 9-11, 2023, in Orlando, Florida. Co-founder Michael Kirban and CEO Martin Roper will engage in a fireside chat on January 10, 2023, at 12:00 p.m. Eastern Time. Investors can access the live webcast in the 'Events' section of the Company’s Investor Relations website, with an archived replay available post-event. Founded in 2004, Vita Coco is a leader in the functional beverage space, offering products like coconut water and clean energy drinks.

The Vita Coco Company (NASDAQ: COCO) reported Q3 2022 net sales of $124 million, a 7% increase year-over-year, driven by a 14% growth in Vita Coco Coconut Water. Gross margin improved to 26.3%, albeit down from 33% a year earlier, while net income was $7 million (or $0.13 per diluted share), reflecting a decline from $13 million in Q3 2021. The company revised its full-year outlook, expecting net sales between $422-427 million, with continued pressure from transportation costs.

The Vita Coco Company (NASDAQ: COCO) will release its financial results for Q3 on November 9, 2022. The announcement includes details for an earnings call at 8:30 a.m. ET, where executives will discuss the quarterly performance. Founded in 2004, Vita Coco is recognized for its innovative beverage brands, including coconut water and protein-infused water, emphasizing sustainability.

This event provides investors a platform to gain insights into the company's financial standing and strategic direction.

The Vita Coco Company (NASDAQ: COCO) has partnered with HYROX to make PWR LIFT the official hydration sponsor for the 2022-2023 national HYROX events. PWR LIFT, a protein-infused beverage with 10 grams of whey protein and only 50 calories, will be available at U.S. HYROX races, assisting athletes in hydration and recovery. Key event dates include races in New York, Chicago, Dallas, and Los Angeles. The product aims to deliver effective hydration without sugar while promoting muscle growth and recovery post-exercise, making it a valuable resource for athletes.

The Vita Coco Company reported a 13% increase in second quarter net sales to $115 million, driven by strong demand for its coconut water. However, gross profit remained flat at $29 million with a gross margin of 25%, a decrease from 28% last year due to rising transportation costs. Net income fell to $1 million, or $0.02 per diluted share, compared to $8 million, or $0.15 per share, in the prior year. Guidance for 2022 remains intact, with expectations of net sales between $440-455 million and adjusted EBITDA of $27-32 million.